EUR/USD stays bid above 1.1800

The buying interest around the shared currency remains unabated during the first half of the week, with EUR/USD managing well to keep business above the key 1.1800 handle.

EUR/USD gains capped above 1.1830

Spot clinched fresh highs in the 1.1820/25 band during overnight trade, although it deflated from those levels following the opening bell in Euroland.

In the meantime, the softer tone around the greenback continues to sustain the second consecutive upside in the pair, all against the backdrop of almost empty dockets in both the euro area and across the pond.

EUR/USD regained buying interest in the area of 1.1730, fresh lows following the solid print from July’s US payrolls on Friday, reclaiming around a cent to today’s daily highs near 1.1830.

In the broader scenario, EUR appears supported by potential ECB ‘tapering’ in the next months, USD-weakness (stemming from US politics and skepticism around a probable Fed move), speculative positioning and fundamentals from the euro area.

Later in the NA session, the NFIB’s business optimism index is due seconded by JOLTs Job Openings.

EUR/USD levels to watch

At the moment, the pair is advancing 0.15% at 1.1813 facing the next hurdle at 1.1824 (high Aug.8) seconded by 1.1893 (high Aug.4) and finally 1.1909 (2017 high Aug.2). On the other hand, a breakdown of 1.1727 (low Aug.4) would target 1.1657 (21-day sma) en route to 1.1611 (low Jul.26).